Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Shrinking team NBB
FTE fell two years in a row, from 85 to 70.1.
-
Busy address KBO
22 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
ICF from Brussel, company number BE0820347311, closed financial year 2025 with a result of € 4.5 million after tax. For that financial year ICF recorded revenue of € 41.3 million and equity of € 36.6 million. Compared with financial year 2024, the result moved from € 850,829 to € 4.5 million. Profitable, and profit is growing. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 30, 2026.
€ 36.6 million
▼ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 4.5 million
▲ € 3.7 million vs 2024
Profit after tax over the fiscal year.
€ 619,282
▲ 120% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 7.8 million paid out
More than the year’s profit went to the shareholders; reserves fell.
People and assets in 2025
70.1
▼ 7.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 6.3 million
▼ 4% vs 2024
€ 90,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 11,174
▼ 79% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 3.8 million
▼ 43% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 41 days on average.
€ 762,247
▼ 9% vs 2024
Taxes, VAT and social contributions still to pay.
Want to see how much further we take a dossier in the Pro version? Open the free De Lijn example and give feedback →
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 40,189,906 | € 39,866,702 | € 44,065,012 | € 41,336,298 | ▼ 6% |
| Profit after taxes | € 1,737,939 | € 1,756,610 | € 850,829 | € 4,506,267 | ▲ € 3.7 million |
| Equity | € 37,210,217 | € 38,966,827 | € 39,817,656 | € 36,569,970 | ▼ 8% |
| Total debts | € 15,540,787 | € 18,575,733 | € 19,382,610 | € 13,854,734 | ▼ 29% |
| Cash | € 571,359 | € 2,018,990 | € 280,941 | € 619,282 | ▲ 120% |
| Retained profit | € 18,670,281 | € 20,426,891 | € 21,277,720 | € 18,030,034 | ▼ 15% |
| Dividend | € 0 | € 0 | € 0 | € 7,753,953 | |
| Balance sheet total | € 52,751,004 | € 57,542,560 | € 59,213,405 | € 50,424,704 | ▼ 15% |
| Employees (FTE) | 80 | 85 | 78 | 70.1 | ▼ 7.9 |
Key figures of ICF, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ICF?
What happened at ICF in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- James Morgan stepped down as director. NBB
- Warren Marshall stepped down as director. NBB
- Tobias Schafer stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 4.5 million (▲ € 3.7 million vs 2024). Source: NBB ↗
- Barry Broadus stepped down as director. NBB
- Warren Marshall became a director. NBB
- Barry Broadus became a director. NBB
- Tobias Schafer became a director. NBB
In short
From € 1.7 million profit in 2022 to € 4.5 million profit in 2025.
Paid € 2.1 million in corporate taxes since 2022.
Best year ever: 2025, with € 4.5 million profit.
Paid out € 7.8 million in dividends to the owners in total.
A new publication or filing at ICF? We notify you, reason included.
Follow ICFDatabakkes Pro
Know what changes at your customers, suppliers and competitors. Without reading an annual account.
- Follow them in one folder Every company in your folder gets this full dossier: household book, all fiscal years, benchmark against companies of the same size.
- We alert you, with the reason New annual account, Official Gazette publication or status change: you get what changed and where it says so.
- In bulk too, and in ChatGPT and Claude Upload your customer list and get the warning signs back per company. Or ask in your own AI assistant, with this register as the source.
Databakkes Pro is being built. Sign up now and you are first in line for an invitation, with a month to try without a credit card.
De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Establishments
Establishment units
Physical locations of this company
Marnixlaan 17
1000 Brussel
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 22 companies are registered at this address.
All companies at this address →The Fifth Avenue Antique Shop
SIX Financial Information Belgium
€ 9.2 million revenue · 2025
ICF NEXT same network
€ 48.3 million revenue · 2025
EUROPEAN SOCIETY FOR RADIOTHERAPY AND ONCOLOGY
€ 3.7 million gross margin · 2025
AKTOR KNOWLEDGE TECHNOLOGY
€ 7.4 million revenue · 2024
+17 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Mail.com
Hosting
MICROSOFT-CORP-MSN-AS-BLOCK - Microsoft Corporation, US
Domain
Domain
icf.com
Registered
1994-01-13
Registrar
101domain GRS Limited
Expires
2035-01-12
Website info
Features
Security
Details
- Company number
- 0820.347.311
- VAT number
- BE 0820.347.311
- Registered office
- Marnixlaan 17, 1000 Brussel
- Names & denominations
- ICF
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 5 November 2009
- Peppol
- Active · Active since 22 Dec 2025
- Contact
- icf.com
- Activities · NACE
Activiteiten van adviesbureaus op het gebied van bedrijfsvoering en overig managementadvies
Overige adviesbureaus op het gebied van bedrijfsbeheer; adviesbureaus op het gebied van bedrijfsvoering